American Politics VII: Virginia Reel

[Shrillland]

Now I'm hoping this bill fails. I want another curveball to be thrown. I want... chaos.

I don't. I live here and don't particularly want to see America go up in metaphorical flames. We've already had enough literal ones as it is this year.

[San Lumen]

Now I'm hoping this bill fails. I want another curveball to be thrown. I want... chaos.

When the entire global financial system collapses because idiots made us treasury debt the basis you won’t be saying that.

[Kowani]

And that's just the economic repercussions. The political ones are....quite lethal to the Republic. Never forget Argentina in 2001, their democracy very nearly collapsed over almost the same thing.

yeahhhhhhh
i did not bother trying to consider those today, im horrified enough already

The global financial system would also collapse and melt down as idiots decided to make the US dollar and treasury debt the basis of the entire system.

If the US can just print money then what do we need a debt ceiling or income tax for?

blame woodrow wilson (also the tax is actually useful, unlike the debt ceiling, it helps give your money value)

[Great Algerstonia]

Now I'm hoping this bill fails. I want another curveball to be thrown. I want... chaos.

When the entire global financial system collapses you won’t be saying that

Y'know, on second thought, I think I regret making that joke.

[San Lumen]

And that's just the economic repercussions. The political ones are....quite lethal to the Republic. Never forget Argentina in 2001, their democracy very nearly collapsed over almost the same thing.

yeahhhhhhh
i did not bother trying to consider those today, im horrified enough already

The global financial system would also collapse and melt down as idiots decided to make the US dollar and treasury debt the basis of the entire system.

If the US can just print money then what do we need a debt ceiling or income tax for?

blame woodrow wilson (also the tax is actually useful, unlike the debt ceiling, it helps give your money value)

How? Why bother with all of this? Just mint the coin the day after and crisis is solved.

[San Lumen]

When the entire global financial system collapses you won’t be saying that

Y'know, on second thought, I think I regret making that joke.

You should but Republicans seem willing to collapse the global economy for political gain.

[Kowani]

yeahhhhhhh
i did not bother trying to consider those today, im horrified enough already


blame woodrow wilson (also the tax is actually useful, unlike the debt ceiling, it helps give your money value)

How? Why bother with all of this? Just mint the coin the day after and crisis is solved.

stare
because while minting the coin will let us get out of the problem of paying for programs we've already passed, it is not the base of a functioning economic system

[Saiwania]

https://www.youtube.com/watch?v=7vUwtiISsT4

George W. Bush confronted over the Iraq war.

[San Lumen]

How? Why bother with all of this? Just mint the coin the day after and crisis is solved.

stare
because while minting the coin will let us get out of the problem of paying for programs we've already passed, it is not the base of a functioning economic system

Why not? If we can just print money the debt ceiling and taxes become irrelevant.

[Kowani]

stare
because while minting the coin will let us get out of the problem of paying for programs we've already passed, it is not the base of a functioning economic system

Why not? If we can just print money the debt ceiling and taxes become irrelevant.

because you don't know what taxes are for
they're not for revenue
their job is to create demand for the currency so that everyday people use it, curbing inflation and inequality

creating money without taxation doesn't help with any of that

[San Lumen]

Why not? If we can just print money the debt ceiling and taxes become irrelevant.

because you don't know what taxes are for
they're not for revenue
their job is to create demand for the currency so that everyday people use it, curbing inflation and inequality

creating money without taxation doesn't help with any of that

Since when are taxes not for revenue?

[Eahland]

stare
because while minting the coin will let us get out of the problem of paying for programs we've already passed, it is not the base of a functioning economic system

Why not? If we can just print money the debt ceiling and taxes become irrelevant.

Because collapsing the economy through hyperinflation is not particularly better than collapsing the economy by defaulting on our debts.

[The Alma Mater]

Why not? If we can just print money the debt ceiling and taxes become irrelevant.

Because collapsing the economy through hyperinflation is not particularly better than collapsing the economy by defaulting on our debts.

I dunno. I for one like bills that say "100 trillion dollars" and might just allow you to buy a loaf of bread.

[Kowani]

because you don't know what taxes are for
they're not for revenue
their job is to create demand for the currency so that everyday people use it, curbing inflation and inequality

creating money without taxation doesn't help with any of that

Since when are taxes not for revenue?

June 5th, 1933

[Lamoni]

I outta report you jerks for flamebaiting.

*** Warning for flaming ***
You are getting close to getting bans for flaming, Northern Connecticut. You should really stop. Also, do not tell people in threads that you are going to report them to moderation, that can be considered "Mods as Weapons," which is also a warnable offense.

[Luminesa]

yeahhhhhhh
i did not bother trying to consider those today, im horrified enough already


blame woodrow wilson (also the tax is actually useful, unlike the debt ceiling, it helps give your money value)

How? Why bother with all of this? Just mint the coin the day after and crisis is solved.

Why bother? Because millions of vulnerable Americans will be effected.

[Comerciante]

How? Why bother with all of this? Just mint the coin the day after and crisis is solved.

Why bother? Because millions of vulnerable Americans will be effected.

I mean in all fairness that has never bothered us before...

[Kumarinadu]

-snip-

I want off Mitch McBones’s Wild Ride

[Kilobugya]

And that's just the economic repercussions. The political ones are....quite lethal to the Republic. Never forget Argentina in 2001, their democracy very nearly collapsed over almost the same thing.

It's not really the default that drove Argentina to collapse in 2001, but more the other way around. They had a terrible economical and social crisis due to a catastrophic mix of neoliberal policies and corruption, and those leaded to both the default and the collapse of the government.

Exactly like the "feriado bancario" in Ecuador in 1999, which didn't lead to a formal default of Ecuador on its debt, but did lead to a collapse of the currency, economy and to... 3 presidents in a single day.

It took Kirncher and Correa to bring back Argentina and Ecuador to growth and prosperity, and both of them actually did some "partial defaults" as part as their recovery strategy.

[The Huskar Social Union]

So i see things in Nevada are going well

[Vassenor]

So i see things in Nevada are going well

Must be something in the water from all those nuke tests back in the day.

[Kilobugya]

So i see things in Nevada are going well

Must be something in the water from all those nuke tests back in the day.

Reminds a meme we had here some times ago, with the map of France with high FN (extreme-right) vote and the map of Chernobyl fallouts being almost exactly the same. Sure it's a coincidence, but it was funny.

[Ifreann]

When it was originally established, back around the beginning of the 20th century, it had exactly the opposite purpose it does now. It was intended to delegate Congressional authority to create debt to the Treasury as needed to cover the budget, without requiring Congress to come back into session to specifically authorize it... up to a certain limit, beyond which it required Congressional approval. For a while, the debt ceiling was linked to the budget, so when Congress passed a budget, Treasury was automatically authorized to do what they needed to do to fund it. In 1995, Gingrich's House repealed the "Gephardt Rule" linking them, so that the Republicans could use it as a weapon against Democratic Presidents and Congresses, which has put us in the situation we're in now, where any time the Democrats want to spend money, the Republicans invoke a game of political chicken with global economic collapse as the stakes, but when the Republicans want to spend money, the debt ceiling gets suspended.

Maybe the government should just spend less money? Vote on a budget and stick to it.

The US government doesn't pass budgets any more.

[Diahon]

So i see things in Nevada are going well

keeping electing clowns, expect it

[North Washington Republic]

So i see things in Nevada are going well

I guess MAGA only “backs the blue” when they assault leftists. MAGA thinks they should get special treatment from cops.